This morning we watched Newmont drop -4.2% to a price of $44.07 per share. The Large-Cap Silver company is now trading -26.21% below its average target price of $59.72. Analysts have set target prices ranging from $47.0 to $80.0 per share for Newmont, and have given the stock an average rating of buy.
Newmont's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 2.0%. The stock's short ratio is 2.22. At 0.09%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation.
Another number to watch is the company's rate of institutional share ownership, which now stands at 74.1%. In conclusion, we believe there is mixed market sentiment regarding Newmont.
Institutions Invested in Newmont
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 12% | 135,010,500 | $5,949,912,693 |
| 2024-06-30 | Blackrock Inc. | 10% | 119,250,973 | $5,255,390,343 |
| 2024-06-30 | State Street Corporation | 4% | 50,606,358 | $2,230,222,181 |
| 2024-09-30 | Van Eck Associates Corporation | 4% | 48,950,153 | $2,157,233,227 |
| 2024-06-30 | Bank Of New York Mellon Corporation | 2% | 23,209,649 | $1,022,849,224 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 23,158,139 | $1,020,579,178 |
| 2024-06-30 | First Eagle Investment Management, LLC | 2% | 17,108,828 | $753,986,044 |
| 2024-06-30 | Norges Bank Investment Management | 1% | 16,587,209 | $730,998,295 |
| 2024-06-30 | Deutsche Bank Aktiengesellschaft | 1% | 14,493,193 | $638,715,011 |
| 2024-06-30 | Northern Trust Corporation | 1% | 11,978,009 | $527,870,852 |
